OmniAb, Inc. (NASDAQ:OABI) CEO Purchases $1,167,750.00 in Stock

OmniAb, Inc. (NASDAQ:OABI) CEO Matthew W. Foehr purchased 225,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average cost of $5.19 per share, for a total transaction of $1,167,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,908,803 shares of the company’s stock, valued at $15,096,687.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

OmniAb Stock Up 3.9 %

NASDAQ OABI opened at $5.39 on Thursday. The company’s 50 day moving average is $5.63 and its 200-day moving average is $5.33. OmniAb, Inc. has a 12-month low of $3.14 and a 12-month high of $6.72. The firm has a market cap of $626.53 million, a P/E ratio of -10.57 and a beta of -0.16.

Analyst Upgrades and Downgrades

Several analysts have commented on OABI shares. Truist Financial reaffirmed a “buy” rating and issued a $10.00 price objective on shares of OmniAb in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research report on Thursday, March 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of OmniAb in a research report on Thursday, March 21st. Finally, Benchmark reaffirmed a “buy” rating and issued a $8.00 price objective on shares of OmniAb in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $9.20.

Institutional Trading of OmniAb

Several hedge funds and other institutional investors have recently modified their holdings of OABI. California State Teachers Retirement System bought a new stake in shares of OmniAb in the first quarter valued at approximately $384,000. Bank of New York Mellon Corp bought a new stake in shares of OmniAb in the first quarter valued at approximately $1,341,000. Swiss National Bank purchased a new position in OmniAb during the first quarter valued at approximately $684,000. Credit Suisse AG purchased a new position in OmniAb during the first quarter valued at approximately $319,000. Finally, Guggenheim Capital LLC purchased a new position in OmniAb during the first quarter valued at approximately $125,000. Institutional investors own 72.08% of the company’s stock.

About OmniAb

OmniAb, Inc, a biotechnology company, engages in the provision of therapeutic antibody discovery technologies in the United States. The company's discovery platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates.